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Gateley and partners enter five-year lock-in agreement

By Duncan Ferris

Date: Thursday 17 Oct 2019

Gateley and partners enter five-year lock-in agreement

(Sharecast News) - Gateley on Thursday entered into a new five-year agreement with its partners that will place certain restrictions on the sale of ordinary shares in the company.

The new agreement will become effective on 8 June next year, following the expiry of the current lock-in arrangements that were put in place at the time of the company's admission to AIM in June 2015.

Under the terms of the agreement, each locked-in shareholder and his or her associates holding shares at admission will be restricted to selling a maximum of 10% of their originally held share per annum.

Chief executive Michael Ward said: "I am delighted with the overwhelming support partners have shown in the group in signing the new agreement which continues to demonstrate their long-term commitment to the group. I believe that the new agreement secures the continuation of a stable platform from which internal and external shareholders can invest with confidence."

Gateley shares were unchanged at 162.50p at 1544 BST.

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